Gauhati High Court
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Page No.# 1/3
GAHC010174912021
THE GAUHATI HIGH COURT
(HIGH COURT OF ASSAM, NAGALAND, MIZORAM AND ARUNACHAL PRADESH)
Case No. : WP(C)/5608/2021
M/A WELKIN PROMOTERS PRIVATE LTD. AND ANR.
A COMPANY INCORPORATED UNDER THE PROVISIONS OF THE
COMPANIES ACT, 1956, HAVING ITS OFFICE AT COLLEGE ROAD, SILCHAR,
ASSAM, REP. BY ITS DIRECTOR, MRS. SUBRATA KOUR, W/O. MR. JARNAIL
SINGH, R/O. HOUSE NO.8, S.K. BARUA ROAD, 1ST BYE LANE, EAST
RUKMINI NAGAR, DISPUR, GUWAHATI, PIN-781006, KAMRUP (M), ASSAM.
2: SUBRATA KOUR
W/O. MR. JARNAIL SINGH
R/O. HOUSE NO.8
S.K. BARUA ROAD
1ST BYE LANE
EAST RUKMINI NAGAR
DISPUR
GUWAHATI
PIN-781006
KAMRUP (M)
ASSAM
VERSUS
THE PUNJAB NATIONAL BANK AND 2 ORS.
HAVING ITS BRANCH OFFICE AT GNB ROAD, OPPOSITE GUWAHATI CLUB,
NEAR ST. MARY/S ENGLISH HIGH SCHOOL, GUWAHATI-781003, KAMRUP
(M), ASSAM REP. BY ITS BRANCH MANAGER.
2:THE BRANCH MANAGER
PUNJAB NATIONAL BANK
SILPUKHURI BRANCH
GNB ROAD
OPPOSITE GUWAHATI CLUB
NEAR ST. MARY/S ENGLISH HIGH SCHOOL
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GUWAHATI-781003
KAMRUP (M)
ASSAM.
3:THE AUTHORISED OFFICER
PUNJAB NATIONAL BANK
SASTRA CENTRE
CO. GUWAHATI
NILGIRI MANSION
1ST FLOOR
BHANGAGARH
G.S. ROAD
GUWAHATI
PIN-781005
KAMRUP (M)
ASSAM
Advocate for the Petitioner : MR G RAHUL
Advocate for the Respondent : SC, PNB
BEFORE
HONOURABLE MR. JUSTICE PRASANTA KUMAR DEKA
HONOURABLE MR. JUSTICE KAKHETO SEMA
JUDGMENT
Date : 25.10.2021
(P.K.Deka,J)
Mr. G. Rahul, learned counsel for the petitioner submits that the petitioner
who is before this court challenges the possession notices dated 06.10.2021
issued by the Authorised Officer of respondent Bank in respect of the
immovable property secured against the loan availed by the petitioner from the
respondent bank. It is submitted that the bank failed to restructure the loan in
terms of Emergency Credit Line Guarantee Scheme operational till May 26,
2020. It is also submitted that the bank failed to take necessary restructuring in
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terms of the subsequent notification of the Reserve Bank of India dated
5.5.2021. Had the restructuring been carried out by the respondent Bank as per
the said guidelines thereby providing necessary protection, the loan account
would not have been classified as non performance assets(NPA). The
respondent bank vide its response dated 31.8.2021 rejected the proposal of
one time settlement(OTS) and advised the petitioner to pay the demanded
amount of Rs. 3,00,96,417.34 alongwith interest in terms of demand notice
dated 23.4.2021 failing which it was informed that further action would be
initiated as per the provision of SARFAESI Act, 2002.
Mr. Gangully learned counsel for the bank referred to para 3 of the reply
dated 31.8.2021 wherein the bank requested the petitioner to approach with
the offered amount of OTS against the dues mentioned through the demand
notice dated 23.4.2021 issued u/s SARFAESI Act, 2002
In view of the said request made by the bank to the petitioner Mr. Rahul
shall file affidavit stipulating the amount to be paid as one time settlement in
terms of said letter dated 31.8.2021 issued by the bank.
Let this matter be listed on 2.11.2021.
As against the interim protection sought for by Mr. Rahul, Mr. Gangully
submits that till the next date fixed no coercive action shall be initiated by the
Bank in terms of the possession notices dated 6.10.2021.
JUDGE JUDGE
Comparing Assistant
